Sometimes this question comes up and frankly, I love it when it does. I do not care how sophisticated you are about money, you are not prepared for a divorce. From the standpoint of someone in the beginning, middle or end of a divorce situation, you will or have forgotten something important. The act of divorce is just too emotional for you to think properly. Much like the person who wants to defend himself in a murder trial, you are not prepared to look at the situation without emotion and come up with an all-encompassing plan of action regarding your own legal action. Yes, I said legal action; once the papers have been signed and proverbial gavel has banged on desk, you are in a legal action that is fixed. It can be changed but usually with a lot of time and patience and usually a sum of money.
Please do not misunderstand that I know everything, because I do not. When it comes to divorce, no one knows everything. What I represent though is someone who is totally impartial and objective helping my client go through the process. I am able to ask the tough questions and give you benefit of working out a plan that allows you to see the bigger financial picture – things that you just would probably not think about. Do you need to and how would you keep a paper trail of spousal and child support payments after the divorce? Should you sell the family home and if you decide to keep it and sell it later (say 6 years) can you keep the general exclusion for both parties to offset the capital gains from the sale? How would you plan for the death or disability of the person paying the child and/or spousal support? If you have been raising the children and not working throughout the marriage, have you thought about the training that might be necessary for you to enter or re-enter the workforce? Where would you go for the training?
Divorce is very emotional – ask anyone who has been through the process. With that emotion there are many reasons why you don’t ask all of the questions, one main reason is you don’t is because it may stir up extra hurt. When you have a plan proposed by someone else it is easier to ask the questions and get the answers. It is easier to walk into the attorney meeting or the mediation equipped with knowledge and a plan.
If you do not believe me, ask anyone who has been through a divorce if they could have used a divorce planner and I guarantee you that the answer would be a resounding – YES.
If you have any questions about divorce planning in California, sent me an email at david@YourDivorcePlanner.com or call me at 925-484-4030 ext. 26
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